Suez Canal Economic Zone Secures 127 New Contracts in 9 Months

The Suez Canal Economic Zone (SCZone) has recently announced that it has secured 127 contracts in the last nine months. The revenue from these investments will be worth approximately USD 2.8 billion. Of these projects, 61 have received final approval with a foreign investment rate of 49%. Another 66 projects have received initial approval, with foreign investments accounting for 39% of their total investment.

SCZone is an industrial corridor that uses its proximity to the Suez Canal as well as benefits like low tax rates to attract business. This surge of investments can be seen as an indication of the region’s appeal as a destination for industrial development and investment.